Heat Exchanger Market:
The GMI Research’s latest analysis reveals that the Heat Exchangers Market is slated to register a significant CAGR over the forecast period. This is attributed to the increasing deployment of power plants to fulfill the rising demand for energy, growing 3D prototyping, numerous R&D activities, and rapid industrialization across emerging economies.
Heat Exchangers Market’s leading Manufacturers:
- Kelvion Holding GmbH
- Alfa Laval
- Xylem
- Danfoss
- Chart Industries
- API Heat Transfer
- Hindustan Dorr-Oliver Ltd.
- Guntner GmbH & Co. KG
- Johnson Controls
- Hisaka Works Ltd.
Heat Exchangers Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The increasing deployment of power plants to fulfill the rising demand for energy and the rapid industrialization across emerging economies are the key drivers contributing to the growth of the heat exchangers market. As per the heat exchangers market report, increasing technological advancements for the development of heat exchangers, including phase-change cooling technology, growing 3D prototyping, and numerous R&D activities, will further surge the growth of the heat exchangers market during the forecast period.
The strict rules & regulation to decrease carbon emissions & global warming is another factor that will have a positive influence on the market’s demand. According to the heat exchangers market analysis, the growing construction sector is boosting the demand for heating and cooling equipment in residential & commercial buildings. The heat exchangers provide remarkable benefits that include less need for maintenance and space and low energy consumption. These factors further pay the way for the demand for heat exchangers across the world. On the other hand, the increasing cost of development of heat exchangers owing to the growing cost of raw materials and limited awareness regarding the building’s energy efficiency will hamper the growth of the market.
Type Segment Drivers
Based on the type, the shell & tube heat exchangers is predicted to rise at a higher CAGR in the coming years due to the strong adoption of such heat exchanges across various industry verticals like chemicals, food & beverages, and other sectors. The shell & tube heat exchangers offer exceptional benefits, including easy inspection & disassembly, resistance to thermal shocks, decreases maintenance costs, followed by the minimized pressure loss and easy maintenance. All these advantages will attract a large number of customers to opt for these heat exchanges. The shell & tube heat exchangers are designed & manufactured in such as manner that makes them feasible to withstand very high pressures, thereby making them appropriate across all applications.
End-Use Industry Segment Drivers
Based on the end-use industry, the energy is projected to grow at a faster CAGR due to the increasing implementation of heat exchangers in this sector owing to the strong demand in the downstream and upstream processing sectors. The increase in the energy industries due to the rising demand for energy & power driven by the increasing population will accelerate the growth of the market.
Heat Exchangers Market Segmentation:
Segmentation by Type:
- Plate & Frame Heat Exchangers
- Shell & Tube Heat Exchangers
- Air Cooled Heat Exchangers
- Others
Segmentation by End-Use Industry:
- Energy
- Chemicals
- Food & Beverages
- HVAC & Refrigeration
- Pulp & Paper
- Power Generation
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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